Organised by:

National Law University, Delhi (NLUD),
Insolvency Law Academy (ILA) & 
Confederation of Indian Industry (CII)

27th January 2023, India International Centre – New Delhi

The Ministry of Corporate Affairs, Government of India published a Discussion Paper on 18th January 2023 inviting comments on changes being considered to the Insolvency and Bankruptcy Code, 2016. The discussion began with introductory remarks from the President of ILA, Shri. Sumant Batra, on behalf of CII and NLUD.

The first session titled, ‘Streamlining Corporate Insolvency Resolution Process’ was led by Shri. Rajesh Sharma, Former Member (T) NCLT where the members engaged deeply on the matters of admission of an insolvency petition, distribution of proceeds and resolution plans. In the ‘Recasting of the Liquidation Process’ session, Dr Risham Garg, Associate Professor of Law and Director of the Centre for Regulatory Studies, National Law University, Delhi and Ms. Vatsala Rai, Partner, AZB & Partners guided the conversation through contentions such as the dissolution of the Corporate Debtor, elimination of duplication of activities between the CIRP and the liquidation processes and the realisation of security interest by the secured creditor. Shri.Sumant Batra then took over as the moderator for the last session on pressing matters concerning fast-track insolvency resolution and group insolvency in India.

The roundtable participants represented diverse stakeholders and contributed in an insightful and collaborative manner.